Kellanova reported Q4 2024 results with a revenue decline of 2.38% year-over-year to $3.124 billion, while profitability remained resilient. Gross profit was $1.162 billion (gross margin ~37.2%), and operating income reached $531 million (operating margin ~17.0%). Net income totaled $365 million, translating to basic earnings per share of $1.058 and diluted EPS of $1.043. EBITDA stood at $641 million (EBITDA margin ~20.5%). The company generated $467 million of cash from operations and free cash flow of $279 million, funding $188 million of capital expenditures and $196 million of dividends, resulting in a ending cash balance of $694 million. Despite these positives, Kellanova carries a meaningful debt load (total debt $6.342 billion; net debt $5.648 billion) and aCurrent ratio of 0.81, indicating liquidity risk in a rising cost environment if working capital needs spike. The results imply a resilient profit framework supported by cost discipline and portfolio mix, but the topline weakness and leverage trajectory warrant close monitoring of deleveraging progress and cash deployment.